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Artificial Intelligence (AI), Blockchain, and Cryptocurrency in Finance: Current Scenario and Future Direction

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Proceedings of the 2nd International Conference on Emerging Technologies and Intelligent Systems (ICETIS 2022)

Part of the book series: Lecture Notes in Networks and Systems ((LNNS,volume 584))

Abstract

By combining artificial intelligence (AI), big data, and cloud computing, the blockchain revolutionises the production of both ascendable information technology systems and diverse applications. The combination of AI and blockchain has enormous potential for developing new financial service models that are enabled by digitalization. Although there are a few investigations on the application and conjunction of AI and blockchain, our extant literature findings on the financial services’ value of their integration are still fragmented. To close this gap, the goal of this research is to evaluate the uses and benefits of integrated AI and blockchain platforms across many financial service platforms. We further discussed the impact of decentralized cryptocurrency on financial sectors. This study revealed that AI and Blockchain have the potential of causing an increase in banking services, lending efficiency, collection and payment competency, and asset management. Furthermore, we highlight cryptocurrencies are encountering cybersecurity, mining, privacy, anonymity, and regulatory challenges that policymakers need to act on.

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Author information

Authors and Affiliations

  1. Department of Accounting and Finance, UCSI University, Kuala Lumpur, Malaysia

    Mosharrof Hosen, Hassanudin Mohd Thas Thaker, Vasanthan Subramaniam & Hooi-Cheng Eaw

  2. UCSI Graduate Business School, UCSI University, Kuala Lumpur, Malaysia

    Tat-Huei Cham

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  1. Mosharrof Hosen
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  2. Hassanudin Mohd Thas Thaker
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  3. Vasanthan Subramaniam
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  4. Hooi-Cheng Eaw
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  5. Tat-Huei Cham
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Correspondence to Mosharrof Hosen .

Editor information

Editors and Affiliations

  1. Universiti Teknologi Malaysia, Johor, Malaysia

    Mohammed A. Al-Sharafi

  2. The British University in Dubai, Dubai, United Arab Emirates

    Mostafa Al-Emran

  3. Al-Buraimi University College, Al Buraimi, Oman

    Mohammed Naji Al-Kabi

  4. The British University in Dubai, Dubai, United Arab Emirates

    Khaled Shaalan

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Hosen, M., Thaker, H.M.T., Subramaniam, V., Eaw, HC., Cham, TH. (2023). Artificial Intelligence (AI), Blockchain, and Cryptocurrency in Finance: Current Scenario and Future Direction. In: Al-Sharafi, M.A., Al-Emran, M., Al-Kabi, M.N., Shaalan, K. (eds) Proceedings of the 2nd International Conference on Emerging Technologies and Intelligent Systems. ICETIS 2022. Lecture Notes in Networks and Systems, vol 584. Springer, Cham. https://doi.org/10.1007/978-3-031-25274-7_26

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